These figures come from the Household Finance and Consumption Survey (HFCS) conducted by the European Central Bank, according to Euronews.
According to analysts, the standard of living after retirement in Europe is determined not only by the size of pension payments. Assets accumulated over a lifetime, real estate value, family capital, and the characteristics of national social protection systems play a key role.
Luxembourg topped the ranking with a median net wealth of €1.22 million for elderly households. Its closest competitor—Malta—lags significantly behind with a figure of €310,000.
Excluding these small countries, the wealthiest retirees in the EU are residents of Belgium and Ireland. Their median wealth stands at €307,700 and €296,700, respectively.
France and Germany are virtually tied for the next spots: €232,800 and €232,100. In Spain, the figure reached €200,800, while Italy ranked last among the EU’s four largest economies with €168,000.
The Netherlands posted unexpectedly modest figures. Despite having one of Europe’s most stable pension systems, the median wealth of local retirees is only €134,400—significantly below the eurozone average.
The Baltic and Central European countries found themselves at the bottom of the ranking. Latvia is followed by Lithuania with €51,400, Hungary with €54,400, Estonia with €73,500, and Croatia with €75,900.
Across the eurozone as a whole, the median net wealth of households aged 65–74 is €185,300. After age 75, this figure drops to €144,400, which is 22% lower. The only exceptions were Luxembourg and Belgium, where older age groups were actually wealthier.
Experts attribute these sharp differences primarily to the real estate market. In countries where families have been actively purchasing their own homes for decades and benefiting from rising property prices, older people have accumulated significantly more capital.
“These differences reflect not only individual savings but also the influence of housing policy, pension systems, family transfers, and historical patterns of property formation,” notes Fabian Pfeffer, a professor at Ludwig Maximilian University of Munich.
In other words, the study reveals a general trend: in modern Europe, the quality of life in retirement increasingly depends not only on years of service or the size of the pension, but also on whether the family has managed to accumulate assets and real estate over the preceding decades.
